We had been working with Wells Fargo for months. We were approved by the underwriter and were given the go ahead to get the appraisal and inspection for the house we wanted to purchase. My boyfriend and I gave the necessary pay stubs that indicated we worked 40 hours each week. Wells Fargo, on the day of closing, denied our loan. Supposedly, our year to date did not match what earnings we should have had. Or was that an excuse? Why did it take so long for us to get this denial after everything was said and done? Please help.::(

It looks like a case of poor communications between you and Wells Fargo. What you received was a Conditional Loan Approval, subject to an acceptable appraisal, and perhaps other items that the underwriter needed to review. The underwriter as a matter of course will compare the YTD earnings to insure that they track the income used for approval. There are often valid reasons for the YTD income to be lower than it should be. Did you miss several week of work because of an illness or injury? Did you take a leave to tend to a family emergency? Did you recently receive a promotion/substantial raise in pay? Keep in mind that if overtime and/or bonus income was used, you need to document about a two year history of that, and the employer must verify that its continuance is LIKELY. If you can provide a reasonable explanation AND DOCUMENTATION to justify the shortfall in the YTD income, and if everything else is in order, you should get your loan. Good Luck